Are you wondering what the 2024 Median Sale Prices Statistics look like in the 28411 Zip Code, in Wilmington and in New Hanover County, North Carolina? Real estate values and real estate market trends vary from neighborhood to neighborhood, city to city, county to county and state to state. Take a look at the Median and Average Sales Prices in those location for the past 5 Years! 

The information provided was obtained from the NCRMLS, Hive MLS. Additional graphs for each location are provided detailing information such as active days on the market, days to close, number of sale transactions and percent list price to sale price.

28411

Wilmington

New Hanover County

In today’s digital age, it’s tempting to rely on automated tools for everything — including figuring out how much your house is worth. But be careful. The automated estimates you’re seeing online often miss key details that affect the true market value of your home. You need to understand why these tools generally aren’t spot-on and why working with an expert real estate agent is the best way to get an accurate picture of what your house is really worth.

When selling a home, there are many factors which are considered in arriving at a value estimate. There are many factors which do have an affect on the value of real estate and the eventual sale price of a home and then there are factors that do not have an affect on the value of real estate.  Some of these factors are within the control of the owner, and others are beyond the control of the owner.

This article was prepared by David Fialk, Realtor Emeritus, who regularly posts real estate articles of interest for home buyers, home sellers, and homeowners.
Licensed Since 1971, David Fialk is a  Licensed Real Estate Broker in North Carolina (Intracoastal Realty, Wilmington 28411) and a Broker- Salesperson in New Jersey (Coldwell Banker Realty, Metuchen 08840) and has helped more than 1800 Families Move across Town… Throughout the State… and Across the Country!
Are you planning on purchasing real estate? Thinking of selling your home? For real estate information “You Can Rely On, Contact the REALTOR You Can Rely On”.
David can be reached via email or by phone or text at 910-859-0200 or at www.DavidFialk.com.

Want to find out more about David Fialk?

The post 2024 Median Sale Price Statistics in 28411, Wilmington and New Hanover County in North Carolina appeared first on David Fialk Realtor Emeritus North Carolina and New Jersey.

It depends on who is looking at the real estate market!
Home Buyers would not be disappointed if home prices dropped, but are not pleased if they continue to go up.
Home Sellers would be disappointed if home prices were dropping and they could not sell their home for what they may have previously. But they are excited if home price were continuing to increase.

Are real estate home prices increasing, decreasing or are they stabilizing? What about real estate sales transactions? Are there as many Sale Transactions now as in previous months or years? Are homes still selling above asking price? Are buyer bidding wars as common as in the past year(s)? Are home sellers reducing the asking price in order to sell?

When reading and looking at real estate sales and statistics, is it Median Sale Price or Average Sale Price? How about sales? Are they closed sales or under contract(pending) sales? Are they existing homes or new homes?

Home Prices Aren’t Declining, But Headlines Might Make You Think They Are.
If you’ve seen the news lately about home sellers slashing prices, it’s a great example of how headlines do more to terrify than clarify. Here’s what’s really happening with prices.

Reports like this appear in various News Related posts on a Monthly basis.

In addition to a report like this, there are additional reports published by State REALTOR® Associations and Local REALTOR® Boards or MLS Associations which includes real estate statistical information local to the area. Of importance is the fact that real estate is Local and what’s true of the whole is not true for the parts. Yes, real estate sales and sale price statistics vary from National, State, County, Region, City, Zip Code and Neighborhood. And Yes, what is true for National Real Estate Statistics may not be similar throughout the Country.

I am currently Licensed in North Carolina and New Jersey and as such I am a Member of State and Local Realtor Associations and Multiple Listings Systems which provide Statistical Data.

North Carolina

New Hanover County

28411 in Wilmington

The bottom line is home prices are higher than they were a year ago at this time, and they’re expected to keep rising, just at a slower pace.
A recent article from Redfin notes, “Price Drops Hit Highest Level in 18 Months As High Rates Dampen Buyer Demand.” And that might make you think prices are declining. Now, while it’s true the latest report from Realtor.com also shows 16.6% of homes on the market had price reductions in May, which is up from 12.7% last May, that doesn’t mean overall home prices are falling.
The key is knowing the difference between the asking price and the sold price.

What Does This Mean for Home Prices?
So, while there’s been an increase in price reductions recently, this doesn’t mean overall home values are declining. Instead, it’s a sign that demand is moderating. And, as a result, sellers are adjusting their expectations to align with today’s market reality. Even with more price reductions, home values are still growing on an annual basis, as they do nearly every year in the housing market. According to the Federal Housing Finance Agency (FHFA), home prices went up 6.6% over the last year.

So, while seller price reductions are often a leading indicator that prices may moderate in the months ahead, which experts have been saying for a while is expected to happen, they aren’t necessarily reason for alarm. The same article from Redfin also states:
“. . .those metrics suggest sale-price growth could soften in the coming months as persistently high mortgage rates turn off homebuyers. For now, the median-home sale price is up 4.3% year over year to another record high. . .”
And with inventory as tight as it is today, price moderation is much more likely in upcoming months than price declines.
Why This Is Good News for Buyers and Sellers
For buyers, more realistic asking prices mean a better chance of securing a home at a fair price. It also means you can enter the market with more confidence, knowing prices are stabilizing rather than continuing to skyrocket.
For sellers, understanding the need to adjust your asking price can lead to faster sales and fewer price negotiations. Setting a realistic price from the start can attract more serious buyers and lead to smoother transactions.
Bottom Line
While the uptick in price reductions might seem troubling, it’s not a cause for concern. It reflects a market adjusting to new conditions. Home prices are continuing to grow, just at a more moderate pace.

The above article, “Real Estate Home Prices and Real Estate Sales “, was prepared by David Fialk, Realtor Emeritus, who regularly posts real estate articles of interest for home buyers, home sellers and homeowners.

Licensed Since 1971, David Fialk is a  Licensed Real Estate Broker in North Carolina (Intracoastal Realty, Wilmington 28411) and a Broker Salesperson in New Jersey (Coldwell Banker Residential Brokerage, Metuchen 08840) and has helped more than 1800 Families Move across Town… Throughout the State… and Across the Country!

Planning on purchasing real estate? Thinking of selling your home? For real estate information “You Can Rely On, Contact the REALTOR You Can Rely On”.
David can be reached via email or by phone at 910-859-0200 or at www.DavidFialk.com.

Want to find out more about David Fialk?

The post Real Estate Home Prices and Real Estate Sales appeared first on David Fialk Realtor Emeritus North Carolina and New Jersey.

Are you wondering what the May, 2024 Real Estate Trends and Statistics look like in the 28411 Zip Code, in Wilmington and in New Hanover County, North Carolina?

View the Number of Listings, Sale Price Trends, List Price versus Sale Price Stats, and  Days on the Market on the Interactive Graphs below. The Links below may Expire by July 21, 2024.

Real Estate Trends in the 28411 Zip Code in Wilmington, NC through May, 2024

Real Estate Trends in Wilmington, North Carolina through May, 2024

Real Estate Trends in New Hanover County, North Carolina through May, 2024

Interested in viewing real statistics and trends in other areas of New Hanover County?

Wondering what the real estate statistics and trends trends are throughout the Country? The National Association of REALTORS® provides Monthly Reports on Existing Home Sales.

This article was prepared by David Fialk, Realtor Emeritus, who regularly posts real estate articles of interest for home buyers, home sellers, and homeowners.
Licensed Since 1971, David Fialk is a  Licensed Real Estate Broker in North Carolina (Intracoastal Realty, Wilmington 28411) and a Broker- Salesperson in New Jersey (Coldwell Banker Residential Brokerage, Metuchen 08840) and has helped more than 1800 Families Move across Town… Throughout the State… and Across the Country!
Are you planning on purchasing real estate? Thinking of selling your home? For real estate information “You Can Rely On, Contact the REALTOR You Can Rely On”.
David can be reached via email or by phone at 910-859-0200 or at www.DavidFialk.com.

Want to find out more about David Fialk?

The post May 2024 Real Estate Trends and Statistics in 28411, Wilmington and New Hanover County in North Carolina appeared first on David Fialk Realtor Emeritus North Carolina and New Jersey.

I am providing the “28411” 2023 Single Family Market Summary Report for you to view and print if you would like.

View the Full Local Market Update for 28411.

In addition, I am providing the images with the link to Interactive Statistics for 5 Years of Data for Closed Sales, Average Sale Price and Average Days on the Market for 28411.

Closed Sales (Click the Image to View Interactive Stats)

Average Sale Price (Click the Image to View Interactive Stats)

Average Days on the Market (Click the Image to View Interactive Stats)

This article was prepared by David Fialk, Realtor Emeritus, who regularly posts real estate articles of interest for home buyers, home sellers, and homeowners.
Licensed Since 1971, David Fialk is a  Licensed Real Estate Broker in North Carolina (Intracoastal Realty, Wilmington 28411) and a Broker- Salesperson in New Jersey (Coldwell Banker Residential Brokerage, Metuchen 08840) and has helped more than 1800 Families Move across Town… Throughout the State… and Across the Country!
Are you planning on purchasing real estate? Thinking of selling your home? For real estate information “You Can Rely On, Contact the REALTOR You Can Rely On”.
David can be reached via email or by phone at 910-859-0200 or at www.DavidFialk.com.

Want to find out more about David Fialk?

The post 2023 Local Market Update 28411 Wilmington, North Carolina, appeared first on David Fialk Realtor Emeritus North Carolina and New Jersey.

2023 in now complete.
Are you wondering what the 2023 Real Estate Statistics are in the THREE County Areas of New Hanover, Pender and Brunswick in North Carolina? 
View the 2023 Real Estate Statistics for Closed Sales, Average Sale Price and Average Days on the Market for Single Family Homes in the THREE County Area(New Hanover, Pender and Brunswick) in North Carolina. 
2023 New Hanover County Real Estate Statistics
New-Hanover-County_12.2023
View Real Estate Statistics for in New Hanover County on 1 Year and 5 Year Interactive Charts.

2023 Brunswick County Real Estate Statistics
Brunswick-County_12.2023
View Real Estate Statistics for in Brunswick County on 1 Year and 5 Year Interactive Charts.

2023 Pender County Real Estate Statistics
Pender-County_12.2023
View Real Estate Statistics for in Pender County on 1 Year and 5 Year Interactive Charts.

This article was prepared by David Fialk, Realtor Emeritus, who regularly posts real estate articles of interest for home buyers, home sellers, and homeowners.
Licensed Since 1971, David Fialk is a  Licensed Real Estate Broker in North Carolina (Intracoastal Realty, Wilmington 28411) and a Broker- Salesperson in New Jersey (Coldwell Banker Residential Brokerage, Metuchen 08840) and has helped more than 1800 Families Move across Town… Throughout the State… and Across the Country!
Are you planning on purchasing real estate? Thinking of selling your home? For real estate information “You Can Rely On, Contact the REALTOR You Can Rely On”.
David can be reached via email or by phone at 910-859-0200 or at www.DavidFialk.com.
Want to find out more about David Fialk?

The post 2023 Real Estate Statistics: New Hanover County, Brunswick County and Pender County in North Carolina appeared first on David Fialk Realtor Emeritus North Carolina and New Jersey.

In the News:
Mortgage News Daily  12/14/23   One Of The Biggest 2-Day Drops in Rates in Decades
Today’s headline speaks for itself: one of the biggest 2-day drops in rates in decades. Simply put, over the past 48 hours, mortgage rates have moved lower by a larger amount than almost any other time in our records. There was a similar episode in November 2022 and only one other episode in March 2020 (which we don’t really count as “real” due to the once-in-a-lifetime market dynamics in play at the onset of the pandemic). Before that, we don’t have anything else remotely close going back to start of our intraday record-keeping in 2007.
Freddie Mac 12/14/23 Mortgage Rates Drop Below Seven Percent
Potential homebuyers received welcome news this week as mortgage rates dropped below seven percent for the first time since August. Given inflation continues to decelerate and the Federal Reserve Board’s current expectations that they will lower the federal fund’s target rate next year, there will likely be a gradual thawing of the housing market in the new year.

Mortgage News Daily 12/13/23 Rates Plummet to Lowest Levels Since May 2023 After Fed Announcement
Today brought the scheduled Fed policy announcement that we’ve been waiting for and mortgage rates plummeted as a result.  So does that mean the Fed cut rates?  No…  The Fed kept its policy rate perfectly unchanged, as expected.
It was unlikely that the Fed would have said anything significant in the actual policy announcement itself (although they did add a single word that hinted at the prevailing rate hike cycle being over).  Instead, today’s focus was on the dot plot which the Fed uses to convey its outlook for the Fed Funds Rate 4 times per year.
Freddie Mac  12/7/23 Nearing Seven Percent, Mortgage Rates Continue to Decrease.
The 30-year fixed-rate mortgage averaged nearly 7 percent this week, down from nearly 7.80 percent just six weeks ago. When rates began to rapidly drop, purchase applications rebounded initially, but this improvement in demand diminished in the last week. Although these lower rates remain a welcome relief, it is clear they will have to further drop to more consistently reinvigorate demand.

Housing Wire  12/7/23    Mortgage rates are (finally) back at 7%
Mortgage rates continued their downward trajectory this week as the 10-year Treasury yield dropped below4.2% for the first time since September, according to new data from Freddie Mac
InmanNews  12/5/23 How low can they go? Mortgage rates back under 7% this week
Mortgage rates continue to retreat from 2023 highs, but homebuyer demand for purchase loans remained flat last week, as for-sale inventories are still tight in many markets and prices remain out of reach of some would-be buyers.
InmanNews  11/30/23  Homebuyers seizing the day as mortgage rates continue to slide
Mortgage rates continue to retreat from their 2023 highs and would-be homebuyers are seizing the day, with applications for purchase loans surging by a seasonally adjusted 5 percent last week from the week before, the Mortgage Bankers Association (MBA) reported Wednesday.

Financing the Home Purchase: National Association of REALTORS® | 2023 Profile of Home Buyers and Sellers
* Eighty percent of buyers financed their home purchase, up slightly from 78 percent last year, but still down from 87 percent in the 2021 report.
* The typical down payment for first-time buyers was eight percent, the highest share since 1997 when the typical down payment was 9% for first-time buyers. The typical down payment for repeat buyers was 19%, which is the highest share since 2005 when the typical down payment was 21%.

Yes, you can use a Calculator to obtain an estimated mortgage payment. Yes, you can use your Cell Phone or Computer and use a Mortgage Payment App to do it. Your Choice!

Take a look at estimating a Monthly Mortgage Payment using a 8% Down Payment as noted above from the National Association of REALTORS with Interest Rates at current interest rate 6.75% compared to the rate a week or so back of 7.75%.

Mortgage Payment Estimates are Principal and Interest Calculations Only: They do not include Monthly Real Estate taxes, Homeowner’s Insurance,  and Private Mortgage Insurance(PMI), if required. The Actual Mortgage Interest Rate will vary from Lender to Lender, will vary due to the Credit Score of the Borrower, the type Mortgage, and other factors. Consult a REALTOR and or Mortgage Professional to obtain Current Mortgage Interest Rates and Monthly Mortgage payment estimates.

Yes, mortgage interest rates have dropped. And yes, monthly mortgage payments on a home purchase will be lower! And yes it is very possible that there will be Mortgage Lenders offering lower interest rates than noted above. Just look at the Mortgage Interest Chart on the right column above.
New Hanover County, NC(November, YTD, Cape Fear Realtors, NC Regional MLS)$453,900
-Down Payment(8%): $36,400; Mortgage Amount: $417,500
– $287.61.18 Savings  7.75% $2,989.30 versus 6.75% $2,709.57
Wilmington, NC(November, YTD, Cape Fear Realtors, NC Regional MLS) $455,000
– Down Payment(8%): $36,400; Mortgage Amount: $418,600
– $280.47 Savings  7.75% $2,997.18 versus 6.75% $2,716.71
28411 Zip Code(November, YTD, Cape Fear Realtors, NC Regional MLS) $490,000
– Down Payment(8%): $39,200; Mortgage Amount: $450,800
– $302.04 Savings  7.75% $3,227.73 versus 6.75% $2,925.69
A pleasing drop in Mortgage interest Rates, and yet a little surprising in the extent they have dropped. And the benefit to Home Buyers?

Assuming a Buyer was comfortable and qualified for the mortgage payment of $3,227 per month as noted just above at 7.75% in the 28411 Zip code, the lower interest rate of 6.75% would provide the ability of increasing the price range and increasing the mortgage amount by an additional $43,000 which would result in a similar mortgage payment of  approximately $3,224. Instead of looking at properties in the $490,000 purchase range, they could increase the price range to $533,0000 plus or minus.  Take note that increased mortgage amount and price may be slightly different due to a slight change in the down payment, real estate taxes and perhaps interest rate.

Again, Consult a REALTOR and or Mortgage Professional to obtain Current Mortgage Interest Rates and Monthly Mortgage payment estimates.  

The above article was prepared by David Fialk, REALTOR Emeritus, Licensed Real Estate Broker in North Carolina (Intracoastal Realty, Wilmington 28411) and a Broker-Salesperson in New Jersey (Coldwell Banker Residential Brokerage, Metuchen 08840) who has helped more than 1800 Families Move across Town… Throughout the State… and Across the Country!

Are you planning on purchasing real estate? Thinking of selling your home? For real estate information “You Can Rely On, Contact the REALTOR You Can Rely On”.
David can be reached via email or by phone at 910-859-0200 or aww.DavidFialk.com.

Want to find out more about David Fialk?

The post Mortgage Interest Rates Have Dropped appeared first on David Fialk Realtor Emeritus North Carolina and New Jersey.

Are you wondering what the November 2023 Real Estate Statistics look like in the 28411 Zip Code of Wilmington, New Hanover County, NC?

View the Real Estate Local Market Update for the 28411 Zip Code in Wilmington, NC for November.
November.pdf
View Interactive Charts for Closed Sales, Average Sale Prices, Days on the Market, and Pending Sales for One Family Homes in the 28411 Zip Code in 1 Year and 3 Year Charts.
Closed Single Family Sales are down 8.3% Year to Date. Is it due to the real estate market or is it that there less homeowners deciding to sell and placing their homes on the market for sale? Year to Date New listings are down 10.3%

This article was prepared by David Fialk, Realtor Emeritus, who regularly posts real estate articles of interest for home buyers, home sellers, and homeowners.
Licensed Since 1971, David Fialk is a  Licensed Real Estate Broker in North Carolina (Intracoastal Realty, Wilmington 28411) and a Broker- Salesperson in New Jersey (Coldwell Banker Residential Brokerage, Metuchen 08840) and has helped more than 1800 Families Move across Town… Throughout the State… and Across the Country!
Are you planning on purchasing real estate? Thinking of selling your home? For real estate information “You Can Rely On, Contact the REALTOR You Can Rely On”.
David can be reached via email or by phone at 910-859-0200 or at www.DavidFialk.com.

Want to find out more about David Fialk?

The post Real Estate Transactions 28411 Wilmington, North Carolina November, 2023 appeared first on David Fialk Realtor Emeritus North Carolina and New Jersey.

The post Documents You Need for Mortgage Pre-Approval appeared first on David Fialk Realtor Emeritus North Carolina and New Jersey.

Are you wondering what the Real Estate Statistics look like through the First Half of 2023 in New Hanover County, NC?
28411_6.2023

View these Charts!
Closed Sales… Pending Sales…. Homes For Sale…..

Closed Sales 

Pending Sales

Homes For Sale

The post 28411 Wilmington Real Estate North Carolina June 2023 appeared first on David Fialk Realtor Emeritus North Carolina and New Jersey.

Are you wondering what the Real Estate Statistics look like through the First Half of 2023 in Wilmington, NC?
Sale Prices are UP…. AND Closed Sales are DOWN… New Listings are DOWN…. Days on Market are UP…..

Wilmington_6.2023

View these Charts!

Average Sales Price 

Median Sales Price 

Closed Sales

The post Wilmington North Carolina Real Estate June 2023 appeared first on David Fialk Realtor Emeritus North Carolina and New Jersey.